Going with the Intraday Mini-Flow!!
- Thread starter Saint
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- Tags intra day live intraday nifty miniflow miniflow live nifty futures trading nifty intraday trading saint
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Re: Saint's Intraday Miniflow - live discussion
Harshvardhan
I asked the same question to ST sir and here i am pasting his answar
About filters ,let us see how we decide the value of the filter.We are aware that market is a continuously changing entity and daily movement of a stock or Index change,volatility changes,markets undergo periodic bouts of inflation and deflation. In such changing environment,how can our filter be the same ? Nifty Future at 3000 is a different animal than NF at 4500......
Best way to decide the filter value is open the chart in the timeframe you trade....in miniflow it is 30 min....and study last 1 month's period, mark all the pivot high and pivot low breakouts which have failed also WRB breakouts which have failed....here have failed means that breakout level was crossed but market did not continue in the direction of the breakout and it reversed. In each failure breakout,notedown the points by which market exceeded the breakout level but failed to go in that direction. Catagorise them into following :
Points by which B/O level exceeded No of cases
0-5 ....... 7
5.05-10 ...... 12
10.05-15 ...... 15
15.05 -20 ...... 3
20.05 -30 ...... 2
30.05 and above ....... 1
------
TOTAL .... 40
Now comes the art part. You will see that if you keep 15 as your filter, you will eliminate 7+12+15 =34 false breakout cases out of total 40 ,pretty good elimination. If you want to eliminate 100 % , you have to keep filter of 30 and above and you will loose 15+15 ( 15 at entry and 15 at exit ) points in each trade extra, to eliminate those 6 cases which fall beyond 15 filter.
So in our hypothitical case above,filter of 15 will wliminate 85% of all false breakout cases.....pretty good score...we are happy with that balance 6 false trade we will take with a smile on our face...
One can do this once in a month and that value remains constant for a month .....
Hope the above process is clear...
Best wishes,
Smart_trade
__________________
I trade because I am too lazy to work...and too honest to steal.... Larry Williams
Harshvardhan
I asked the same question to ST sir and here i am pasting his answar
About filters ,let us see how we decide the value of the filter.We are aware that market is a continuously changing entity and daily movement of a stock or Index change,volatility changes,markets undergo periodic bouts of inflation and deflation. In such changing environment,how can our filter be the same ? Nifty Future at 3000 is a different animal than NF at 4500......
Best way to decide the filter value is open the chart in the timeframe you trade....in miniflow it is 30 min....and study last 1 month's period, mark all the pivot high and pivot low breakouts which have failed also WRB breakouts which have failed....here have failed means that breakout level was crossed but market did not continue in the direction of the breakout and it reversed. In each failure breakout,notedown the points by which market exceeded the breakout level but failed to go in that direction. Catagorise them into following :
Points by which B/O level exceeded No of cases
0-5 ....... 7
5.05-10 ...... 12
10.05-15 ...... 15
15.05 -20 ...... 3
20.05 -30 ...... 2
30.05 and above ....... 1
------
TOTAL .... 40
Now comes the art part. You will see that if you keep 15 as your filter, you will eliminate 7+12+15 =34 false breakout cases out of total 40 ,pretty good elimination. If you want to eliminate 100 % , you have to keep filter of 30 and above and you will loose 15+15 ( 15 at entry and 15 at exit ) points in each trade extra, to eliminate those 6 cases which fall beyond 15 filter.
So in our hypothitical case above,filter of 15 will wliminate 85% of all false breakout cases.....pretty good score...we are happy with that balance 6 false trade we will take with a smile on our face...
One can do this once in a month and that value remains constant for a month .....
Hope the above process is clear...
Best wishes,
Smart_trade
__________________
I trade because I am too lazy to work...and too honest to steal.... Larry Williams
Re: Saint's Intraday Miniflow - live discussion
thanks for the post hitesh.
but the main thing still remains how to get this data. i am using i chart and it displays only 3 days real time ticks. how to get it for a month.like i had started saving it so that after a months time i will have the charts ready to back test . but then a new problem arise ie, may be nifty will cross the current level and my filter will out of date for such levels.
problem, plz help.
thanks in advance
raj
thanks for the post hitesh.
but the main thing still remains how to get this data. i am using i chart and it displays only 3 days real time ticks. how to get it for a month.like i had started saving it so that after a months time i will have the charts ready to back test . but then a new problem arise ie, may be nifty will cross the current level and my filter will out of date for such levels.
problem, plz help.
thanks in advance
raj
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